Application 3.1, "The Laws of Demand and Supply,"illustrates

Application 3.1, "The Laws of Demand and Supply,"illustrates:

A) how the laws of demand and supply developed over time.
B) the impact of prices on buyers' and sellers' decisions in travel and milk markets.
C) situations where the laws of demand and supply cannot explain buyers' or sellers' behaviors.
D) how the laws of demand and supply have gone beyond economics and are now used by courts in deciding in favor of plaintiffs or defendants in lawsuits.